Sunday, June 05, 2011

Why the French are desperate to run the IMF

Simon Johnson, former chief economist of the IMF:
The French want to sway decision-making at the IMF in order to use US, Japanese, and poorer countries’ money to conceal from their own electorate that the eurozone structure has led all its members into serious fiscal jeopardy – some borrowed heavily, while others let their banks lend irresponsibly and thus created a large contingent liability.

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